The Hang Seng Index dropped 465 points, or 1.7%, to close at 26,567 on Friday, posting a second consecutive session of losses as all sectors declined. Sentiment was pressured by a sharp fall in U.S. stock futures following a tech-led selloff on Wall Street Thursday, ahead of the release of U.S. CPI data later today.
On the mainland, equity markets also finished sharply lower before the nine-day Lunar New Year holiday beginning February 15. China’s stock exchanges will be closed throughout next week, while Hong Kong markets will shut from Tuesday.
Downside in Hong Kong was partly contained by signs of easing Sino-U.S. tensions, after Washington put on hold several key tech-related security measures ahead of a planned Trump–Xi Jinping meeting in April.
Among individual movers, Bank of East Asia slumped 11.1% on weaker earnings guidance for 2025. Gold-related stocks tracked the decline in bullion prices, with Zijin Gold International falling 5.0%, Laopu Gold 4.0%, and Chow Tai Fook 3.9%. In contrast, Healthy Way Inc. jumped 14% on improved profit expectations.
For the week, Hong Kong equities were little changed overall, consolidating after the previous sharp decline.
